BCS finalizes 4-team playoff structure

Denver, CO (Sports Network) - The BCS presidential advisory committee and
group of commissioners unanimously approved the final details Monday on a
four-team playoff for the Football Bowl Subdivision post-season.

The new playoff system, which was approved in June, will begin in the 2014-15 season.

"Today's meeting is a unanimous ratification of what we announced last June in
Washington, D.C.," chairman of the presidential oversight committee Charles
Steger said. "I'm delighted that additional details have been resolved and
that everything is on track so fans can enjoy the post-season they've been
asking for. College football, with its great regular season, is strong and
popular -- it's about to get stronger and more popular."

The group agreed to:

- Lock-in a four team seeded playoff. The teams that will play will be chosen
by a selection committee.

- Create three "contract bowls" and three "host bowls" as part of the post-
season format. The highest-ranked champion from the five conferences that are
not in contract bowls will be guaranteed a spot in a host bowl.

- Share revenue, for the first time in college football history, based on
academic performance as part of the funding formula.

- Share revenue with a higher portion of revenues going to the conferences of
the four teams that qualify for the playoff and participate in the other
games. Distributions will also be made to conferences whose teams don't
qualify for either a contract or host bowl. Since the new format is projected
to be so popular, there will be more revenue for all conferences and
independent institutions.

- Move forward to complete a television rights agreement for the new format.

- Begin hiring staff so the new structure can begin operating.

"This format is good for college football in both the short-term and long-term
and I think it's great for the game," executive director of the BCS Bill
Hancock said. "The four-team playoff will be wonderfully popular and because
fans can't get enough college football, the other bowls will benefit too. I'm
proud of how everyone came together and that agreement has been reached."

The name of the new structure, details of the selection committee and location
for the first playoff games, including the championship game, have yet to be
announced.